GENERAL AVERAGE 69 The collection of contributions and deposits is usually carried out by the shipowner, and these sums are paid into a "General Average Account/* which is a joint account, in the name of the shipowner and a representative of the cargo owners. The interest that is earned by this money whilst on deposit in the joint account is for the benefit of the depositors, and is included in the final statement. Where the cargo owner has insured against general average losses the underwriter usually pays an amount equal to the cargo owner's proportion, and should there be any refund when settlement is made, this is refunded to the underwriter. When the adjustment is complete copies are circulated to all parties concerned and the settlement is then made. It will be seen on reference to the appendix that there are two sets of York-Antwerp Rules, the 1924 and 1950 codes. Both codes are in operation, and the bill of lading or charter-party should be clearly worded stating under which code of rules settlement shall be effected. The rule of interpretation at the commencement of the 1950 code, makes it clear that the 1950 Rules form a General Average code in themselves and defines the relative functions of the lettered rules and numbered rules. The rules are included in the appendix of this volume, and should be closely studied and comparison made between the 1924 code and the 1950 code.